Solitario Resources (NYSEAMERICAN:XPL) Share Price Crosses Below 200 Day Moving Average – Here’s What Happened

Solitario Resources Corp. (NYSEAMERICAN:XPL) (TSE:SLR)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.80 and traded as low as $0.7312. Solitario Resources shares last traded at $0.74, with a volume of 27,991 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $1.20 price objective on shares of Solitario Resources in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1.20.

Solitario Resources Trading Down 1.3%

The stock has a market cap of $68.87 million, a P/E ratio of -14.80 and a beta of 0.45. The firm has a 50-day simple moving average of $0.80 and a two-hundred day simple moving average of $0.80.

Solitario Resources (NYSEAMERICAN:XPL) (TSE:SLR) last posted its earnings results on Wednesday, May 6th. The basic materials company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). Sell-side analysts predict that Solitario Resources Corp. will post -0.05 earnings per share for the current year.

Institutional Trading of Solitario Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its holdings in Solitario Resources by 24.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,612,399 shares of the basic materials company’s stock valued at $1,322,000 after purchasing an additional 316,693 shares during the period. Focused Wealth Management Inc increased its holdings in shares of Solitario Resources by 24.9% during the first quarter. Focused Wealth Management Inc now owns 762,900 shares of the basic materials company’s stock worth $626,000 after purchasing an additional 152,000 shares during the period. Geode Capital Management LLC increased its holdings in shares of Solitario Resources by 9.4% during the fourth quarter. Geode Capital Management LLC now owns 650,751 shares of the basic materials company’s stock worth $454,000 after purchasing an additional 55,958 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Solitario Resources in the third quarter valued at approximately $194,000. Finally, Total Wealth Planning & Management Inc. acquired a new stake in shares of Solitario Resources in the fourth quarter valued at approximately $130,000. Institutional investors and hedge funds own 18.23% of the company’s stock.

About Solitario Resources

Solitario Resources Corp. is a mineral exploration and development company focused on base and precious metals in the Americas. Headquartered in Englewood, Colorado, the firm targets copper, gold and silver through a combination of strategic acquisitions, grassroots exploration and joint-venture partnerships. Solitario’s work spans the full project life cycle from early-stage target generation and permitting through advanced stage resource definition and prefeasibility studies.

The company’s project portfolio includes a range of properties across North and South America.